Key Insights
- Strategy CEO hyped about SpaceX IPO, says 25% of ‘Magnificent Eight’ will now hold BTC.
- SpaceX reveals it owns over 18,000 BTC in its blockbuster IPO filing.
- SpaceX has tapped Crypto billionaire Chun Wang to lead the first crewed Mars flyby.
Elon Musk’s space exploration company, SpaceX, has disclosed holding 18,712 Bitcoin. The disclosure is part of its S-1 filing for its IPO. It finally gives the public knowledge of the company’s crypto exposure.
The news has sparked positive reactions from Phong Le, the CEO of Bitcoin treasury company Strategy (formerly MicroStrategy). According to Le, SpaceX’s IPO will turn the Magnificent 7 into the Magnificent 8.
This is due to the expected valuation of the IPO. SpaceX filing stated that it aims to raise $80 billion at an over $1.5 trillion valuation. The Magnificent 7 refers to the mega-cap US stocks, including Nvidia, Microsoft, Meta, Apple, Amazon, Alphabet, and Tesla.
Lee added that once SpaceX becomes public, 25% of the Magnificent 8 will have Bitcoin. That refers to the space exploration firm and Tesla. However, the suggested Magnificent 8 might not be a long-term thing. Some analysts expect that Tesla and SpaceX will merge by 2027.
Meanwhile, some believe the hype around SpaceX’s Bitcoin holdings is unnecessary. It is only a balance-sheet allocation rather than operational exposure. The company’s Bitcoin holdings are worth around $1.3 billion at current prices, and it did not disclose any plans to buy more.
SpaceX To Become Seventh Biggest Public Company Bitcoin Holder Upon Listing
There have been reports of SpaceX Bitcoin ownership as far back as 2022. However, the company’s exact holdings have always been a matter of speculation. In August 2023, it was reported that the startup had sold a substantial part of its Bitcoin holdings.
According to the filing, SpaceX acquired Bitcoin for $661 million. Given that the flagship asset is now trading around $77,000, SpaceX has made over $700 million in unrealized profit.
With the disclosure, SpaceX will now be among the top ten companies with Bitcoin holdings when it finally goes public. It will rank seventh, ahead of Coinbase, which has 16,492 BTC but below Bullish, which holds 24,300.
Interestingly, Elon Musk’s other public company, Tesla, also owns 11,509 BTC and ranks 12th among public companies. The company held as much as 43,200 BTC in 2021. However, they sold off most of it in 2022 before buying back 1,789 BTC in 2024.
SpaceX Plans First Crewed Mars Flyby with Bitcoin Billionaire on Board
Interestingly, SpaceX’s connection to Bitcoin might soon extend beyond holding the asset. The company is now planning its first crewed Mars flyby and has selected Chun Wang to lead the fully civilian crew.
Wang is the co-founder of Bitcoin mining pool F2pool, which currently ranks among the top three. He is a leading financier of private spaceflight, sometimes selling BTC to fund it.
He funded and captained the first-ever human spaceflight above Earth’s poles in 2025. That flight was on SpaceX Crew Dragon Endurance.
While the Mars flyby mission is likely still years away, Wang has said it will make Mars feel reachable. For now, SpaceX is still looking to launch its Starship V3 spacecraft. It has already been postponed once. However, they will try again on Friday night.
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